Best car insurance for college students hotelier

Kworld Trend / Best car insurance for college students hotelier, Finding the best car insurance for college students can be a daunting task due to high rates for young drivers and special requirements. To simplify your task, we’ve put together a selection of insurance companies that offer quality coverage at competitive rates and great savings. You’ll also find the kind of coverage you need most.

Best car insurance for college students hotelier

When comparing auto insurance for college students, State Farm, USAA, Geico, Progressive, and Traveler had some of the cheapest rates and the best coverage options.

As college students, juggling academics and a part-time job can be challenging enough. Add in the responsibility of owning a car, and finding the best car insurance for college students is crucial. This article will explore the main factors to consider when choosing auto insurance for college students pursuing a career in the hospitality industry.

Comprehensive Coverage: When it comes to auto insurance, comprehensive coverage is a must for college students. Protects from theft, vandalism and damage caused by natural disasters. As a hotelier, having this type of coverage ensures peace of mind, knowing that your vehicle is protected from potential risks.

Why is the best car insurance for college students so expensive?

Car insurance for younger drivers usually costs more than experienced drivers. Most college students are between the ages of 17 and 25. They classify as your drivers who are most likely to be involved in a car accident and file an insurance claim. As a result, they are considered to have a higher risk with higher car insurance coverage costs.

Best car insurance for college students for 2023

• Best overall:  Allstate
• Best cheap car insurance:  GEICO
• Best Student Discounts:  State Farm
• Best for infrequent drivers:  Metromile
• Best family policy:  car insurance
• Best for Military Members:  USAA

Types of auto insurance coverage for college students

Auto insurance policies may include various coverage options and medical protection. Here are the most common coverages, such as:

1. Liability coverage for bodily injury

This coverage will help cover the cost of the accident if you are at fault for causing injury to another driver or their passengers. It includes medical expenses and lost wages for the injured.

2. Liability coverage for property damage

Property damage liability coverage protects any damage to another driver’s vehicle in an accident caused by you. Other properties, such as fences, walls, and more, are also included.

3. Medical Payments Coverage (MedPay)

Regardless of who is at fault in an accident, this insurance covers medical expenses but not lost wages. However, medical payment coverage is optional with many insurance companies, and it is not available in all states. 

4. Personal Injury Protection (PIP)

Just like its name, Personal Injury Protection provides coverage for medical expenses and lost wages due to an accident, whether you’re at fault or not. This coverage is almost the same as MedPay.

5. Uninsured drivers coverage

This insurance policy covers accident-related costs for a person who does not have car insurance or has insufficient insurance. Or worse, the driver flees before the investigation. 

Best car insurance for college students

Here are the 7 best car insurance for college students, offering an attractive combination of great rates and reliable good coverage, as follows:

1. State farm

For young drivers, State Farm offers competitive rates along with additional coverages such as riding insurance, travel expense coverage, and rent reimbursement. State Farm ranked first in overall customer satisfaction.

In short, State Farm is the largest insurance company with an impressive selection of policies. The company offers many opportunities for college students to save money on auto insurance, including special discounts. This is why this insurance company is perfect for college drivers to get car insurance.

The following costs you will have to pay for 18 year old college students. The price gets even cheaper for college students who are 21 or older. check it out!

• Average monthly rates: $278 (18 years old), $194 (21 years and older)
• Median annual rates: $3,340 (18 years old), $2,322 (21+)

2. USAA

United Service Auto Association (USAA) is an insurance company that usually offers the lowest rates on auto insurance. Insurance applies only to eligible members of the military and their families.

USAA offers a wide range of insurance products that make it easier for eligible college students to join the company. You can also find a number of discounts there. 

• Average monthly rates: $241 (18 years old), $134 (21 years and older)
• Average annual rates: $2,897 (18 years old), $1,609 (21+)

3. Geico

You may be familiar with this company. Geico is one of the best insurance companies for its high coverage and affordability for college students. The company has a wide range of insurance options, including high coverage limits.

• Average monthly rates: $263 (18 years old), $134 (21 years and older)
• Median annual rates: $3,161 (18 years old), $1,844 (21+)

4. Insurance for car owners

Car owners insurance is another best car insurance for college students. It has a variety of optional coverages and rates suitable for young drivers. College students are eligible for discounts of 8% and 14% on average for full reimbursement of auto insurance policies.

• Average monthly rates: $308 (ages 18-21)
• Median Annual Prices: $3,700 (18-21 years old)

5. Travelers

In fifth place is Travelers, who offer complete insurance coverage at an affordable price to college students. Travelers also offers discounted rates for hybrid or electric car insurance.

• Average monthly rates: $369 (18 years old), $209 (21 years and older)
• Average annual rates: $4,429 (18 years old), $2,513 (21+)

6. Progressive 

Progressive ranks consistently high in our low-cost car insurance rankings. Various discounts are available that can be used for younger drivers, including college students. This insurance company specializes in servicing drivers at high risk.

In any case, you can take advantage of the great student discount and the long-distance student discount. This can help lower insurance costs for young people. Here is the average pricing you need to know:

• Average monthly rates: $369 (18 years old), $209 (21 years and older)
• Average annual rates: $4,429 (18 years old), $2,513 (21+)

7. Allstate

For new drivers looking for discounts, try signing up for Allstate Insurance. This insurance company allows you to have a choice of insurance that costs every mill. This company does not accept all college students.

Allstate provides the best service for filing insurance claims online, 24/7 over the phone or through an app. In addition, you can expect to spend: 

• Annual rates: $1,268

Factors affecting car insurance costs for undergraduates

The price of insurance premiums is not only due to your age, there are various factors that determine the amount that young people pay for coverage, as mentioned:

1. Type of coverage

One type of insurance and another have different rates. The basic policy only covers the minimum requirements for the cheapest car insurance option.

2. Driving history

If you have a clean driving record, that means you usually get the lowest rate. You can also increase the insurance rate for each at-fault accident or traffic violation. Best car insurance for college students hotelier

3. Location

Each state must have different insurance premiums. Insurance rates also differ for rural areas. It is cheaper than in urban areas.

4. The car

Another factor affecting car insurance costs is the value of your car. Scan your vehicle by make, model, condition, age and mileage. These factors will be taken into consideration in your premium.

5. Credit score

Credit scores can increase insurance rates although not all states allow insurance companies to use credit scores in calculating premiums.

Choose one of the best car insurance companies for college students

So, which is the best car insurance for college students to choose? We hope this article helps you in your search. Check out more about insurance products and rates at each insurance company.